I dont think its necessary to get complicated with this kind of formula, the above does the trick for me.
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Metastock Formulas - Trend Intensity Index Flatliner Discussion in Trading StrategiesSystems started by traderc, Feb 22, 2009. Most Liked Posts Feb 22, 2009 1 traderc Posts: 21 Likes Received: 0 Joined: Feb 21, 2009 Hi all, Anyone had much use for the Trend Intensity Index in OmniTrader at all Seems to be giving some fairly good results in picking trends and thought Id put it up here for people that are interesting in using it as part of a formula in Metastock as part of an Expert or just as a general trend indicator. Working on putting some type of weighting system into it at the moment as current prices are more important than ancient history. Been working on a lot of my own formulas over the past eight years so can probably offer some suggestions to anyone that needs help with creating formulas in Metastock or just maths theorylogin. I have another formula that is VERY GOOD and pretty much picks the peaks and troughs of any trending stock but its still in development; yes I know, Ive heard it cant be done and also that anyone that tells you they can do it is a liar but all I have to say to that is just because its not easy to do or hasnt been done before doesnt mean it CANT BE DONE Anyway, I hope these formulas help and have a good one Christian Feb 22, 2009 2 techa No Ordinary Duck Posts: 19,367 Likes Received: 3,549 Joined: Oct 14, 2004 Christian Your trend indicator--what are the rules for application Attached Files: a Trend.jpg File size: 53.4 KB Views: 34 Feb 22, 2009 3 traderc Posts: 21 Likes Received: 0 Joined: Feb 21, 2009 Feb 22, 2009 4 traderc Posts: 21 Likes Received: 0 Joined: Feb 21, 2009 Ive decided to rewrite the last post and the moderators have set the board to 20 minutes. Anyway, here is a bit better explanation. Can I have the previous post deleted please ) Hi, The main application of the Trend Intensity Index is as a trend confirmation type signal to be used in conjunction with a Stochastic Oscillator or MACD. Probably best for swing trading. E.g. How to read it is as follows: When it starts to rise from the 0 line the price of a stock tends to increase and when the indicator reaches its peak and starts to decline the price will usually begin a decline. You might have to adjust the periods its using though to generate the correct rise and fall. If you correlate it to a MACD and Stochastic its quite good for use in an Expert in Metastock also. This will help minimize stray signals that Stochastics sometimes generate when using them to generate buy and sell signals. Adjusting the formula by smoothing it through use of a Triangular Moving Average can often help smooth and produce even more reliable signals. Its also quite good for use in the Trends section of an Expert to show the long term trends of the market and discovering whether the stock is in a bullish or bearish phase. Youd have to change it from a 14 day view though to a longer term one to generate this. Anyway, hope this helps explain a little better the methodology behind its use. Regards, Christian Feb 25, 2009 5 traderc Posts: 21 Likes Received: 0 Joined: Feb 21, 2009 Hi all, I thought in follow-up to what Id already written Id put up a chart so you can see a visual example instead of just a text description of how the Trend Intensity Index works. Metastock Indicator Formulas How To Apply ItAnyway, hope it assists in seeing how to apply it to making stock decisions. Ive highlighted the points of interest in blue circles so you can see where the price action correlates to the indicator readings. Really a very simple method of trading a nice volatile stock. Metastock Indicator Formulas Code Line ByHi Christian, Going through this code line by line, there are some savings to be made: chartdays: (Cum(CC)); is just a bar counter and is the same as: chartdays: Cum(1); check: (OC AND HC AND LC); this implies HL and if the HL then open and close prices must also be the same (unless you have shonky data) so we can save some more processing by using: check: HL; flatliner: Cum(check); no problems here. Funnily enough, I called this a flatties counter as opposed to flatliner. Set your periods (X) and maximum number of flat days (Y) and away you go.
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